文章基本信息

标题：Creating a market for price swaps: Case study of an innovative risk management instrument in the Belgian-Dutch pear market
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作者：Eewoud Lievens ; Kobe Tielens ; Erik Mathijs 等
期刊名称：Agricultural Economics
印刷版ISSN：0139-570X
电子版ISSN：1805-9295
出版年度：2021
卷号：67
期号：1
页码：33-40
DOI：10.17221/373/2020-AGRICECON
出版社：Czech Academy of Agricultural Sciences
摘要：While the benefits of using futures to manage price risk are widely recognised, only certain groups of farmers have suitable futures at their disposal. This paper discusses an innovative instrument, developed in the Belgian-Dutch pear market, that provides an alternative to futures markets by creating a market for price swaps. Thus, the instrument provides some benefits of market-traded derivatives (like futures) while remaining a relatively simple instrument, which requires fewer market transactions. The paper describes key properties of the swap contracts and the platform used to trade them. In addition, it compares the conditions required for establishing price swap markets and futures markets. Thus, our study informs the design of similar risk management instruments for commodities and contexts where futures are absent.
关键词：collective action; financial derivatives; fruit; risk management